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Monday, 27 September 10
DRY BULK: FREIGHT RATES CONTINUE TO FALL ON LOW ACTIVITY - HELLENIC SHIPPING
 The dry bulk market didn’t manage to change its fortunes during the past week, with holidays across many Asian countries, predominantly China, had a negative impact on chartering activity. As a result freight rates came under further pressure, with iron ore fixtures posting a continued decline and overall spot chartering activity also facing decreases.
According to the latest weekly report issued by Commodore Research, “iron ore fixtures remain relatively low due to the ongoing restrictions on electricity allocation to Chinese steel mills. Overall chartering activity also came under pressure last week due to holidays in Asia. 19 iron ore fixtures were reported last week, a decrease from 24 iron ore fixtures reported during the previous week. 15 of last week’s iron ore fixtures were for capesize vessels, an increase from 12 capesize vessels chartered to haul ore during the previous week. Global coal and grain demand have remained moderate but have not been robust enough to stem the fall in spot freight rates” the report said.
As a result of this negative trend, Capesize rates are currently averaging $29,002/day, a decrease of $4,810 (-14%) from a week ago. Panamax rates are now averaging $21,840/day, a decrease of $1,685 (-7%). Supramax rates are averaging $19,644/day, a decrease of $1,397 (-7%). Handysize rates are averaging $15,666/day, a decrease of $298 (-2%).
At the same time period chartering activity also remained subdued, with 92 spot trip fixtures (28 less than the previous week) and 16 period fixtures (1 less than the previous week) were reported last week. Commodore said that none of the period deals were for a year or more. “Sentiment remains somewhat negative due to the going electricity restrictions to steel mills in China. Last week marked the first time in eleven weeks that no period deals for a year or more were reported. At that time, sentiment was very negative due to spot freight rates approaching 2010 lows.
The report mentioned that “market players remain spooked by the recent decision by the Chinese government to reduce electricity allocation to Chinese steel mills - but so far Chinese steel production has reportedly only decreased by 2%. The electricity restrictions will continue to represent a significant threat to near-term dry bulk freight rates, however, and must continue to be monitored extremely closely. Several analysts have forecast that Chinese steel output will decline by as much as 10% due to the ongoing electricity restrictions.
Based on August’s 51.64 million tons of crude steel production, this would put post-restriction monthly output at approximately 46.5mt, an amount not seen since May 2009. We continue to anticipate that Chinese steel demand will exceed most expectations. Chinese stockpiles have remained steady in recent weeks and there is little reason to believe that immediate steel demand has significantly decreased. We expect Chinese steel production to range between 48 to 49mt of crude steel in September and October.
The Chinese government cannot afford to have steel prices surge due to an artificial restraint on supply. Inflation is already a growing concern in China. The National Development and Reform Commission has also criticized the electricity allocation restrictions” concluded Commodore.
In terms of the secondhand and demolition activity of the past week, shipbroker Golden Destiny said that in total there were 39 sales reported. The activity was high at both the S&P and the newbuilding market with 32 & 34 orders reported in total respectively. “The secondhand market has been marked with a 100% positive yearly change with 32 vessels reported to have changed hands this week equalling a total amount of money invested more than US$796,800,000, since in 9 transactions the price hasn’t been disclosed. In the demolition market, 7 vessels have been headed to the scrap yards of total deadweight 218,513 tons, while in 2009 14 vessels reported for scrap indicating a negative yearly change of 100%. In the newbuilding market, 34 vessels reported to have been ordered equalling a total deadweight around 1,683,000 tons. The dry sector has held the largest share of newbuilding contracts, equalling a total deadweight of 1,076,000 tons, with orders from kamsarmaxes, panamaxes & supramaxes being the most popular vessel types. The Greek presence has been noticed this week only in the secondhand market with 6 transactions, two in the in the post panamax bulkcarrier sector and four in the small panamax container sector. The cumulative amount invested by Greek investors in the secondhand market can be calculated only by the bulkcarrier acquisitions around $ 82,000,000, since the price of the Container enbloc transaction has not been disclosed” concluded the report.
Source: Nikos Roussanoglou, Hellenic Shipping
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Tuesday, 05 October 10
EWP SEEKING VIETNAMS ANTHRACITE COAL
COALspot.com: South Korea’s EWP is seeking Min 200,000MT of Vietnam coal with plus or minus 30,000MT at EWP’s (Korea East West Power Co ...
Monday, 04 October 10
2 BLN TONS OF COAL RESERVES DISCOVERED IN SOUTHERN PAKISTAN - XINHUA / HELLENIC SHIPPING
Xinhua and Hellenic Shipping reporte dhtat, the discovery of at least two billion tons of usable coal reserves has been confirmed in one of the ...
Sunday, 03 October 10
THE BDI WAS JUST INCREASED BY 8 POINTS AND CLOSED AT 2452 POINTS LAST FRIDAY - VISTAAR
COALspot.com: The BDI was almost at same levels and just increased by 8 points and closed at 2452 points , however the cape index was up by al ...
Sunday, 03 October 10
NALCO TO FINALIZE INDONESIA COAL DEAL BY JANUARY - HINDUSTAN TIMES
HindustanTimes reported that, state-owned National Aluminium Company (NALCO) will finalise a deal with a coal source in Indonesia for its $4 billion ...
Sunday, 03 October 10
INDONESIA WILL BECOME A NET IMPORTER OF ENERGY IN 2030 - BPPT
Jakarta Updates reported that,Indonesian Agency for the Assessment and Application of Technology (BPPT) predicted that the energy situation in Indon ...
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- Barasentosa Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Electricity Generating Authority of Thailand
- Thai Mozambique Logistica
- PTC India Limited - India
- Larsen & Toubro Limited - India
- IEA Clean Coal Centre - UK
- Cement Manufacturers Association - India
- White Energy Company Limited
- Iligan Light & Power Inc, Philippines
- Merrill Lynch Commodities Europe
- The State Trading Corporation of India Ltd
- San Jose City I Power Corp, Philippines
- Meenaskhi Energy Private Limited - India
- IHS Mccloskey Coal Group - USA
- Xindia Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- New Zealand Coal & Carbon
- Jorong Barutama Greston.PT - Indonesia
- Sojitz Corporation - Japan
- Price Waterhouse Coopers - Russia
- Global Green Power PLC Corporation, Philippines
- Siam City Cement - Thailand
- Dalmia Cement Bharat India
- Bhoruka Overseas - Indonesia
- Binh Thuan Hamico - Vietnam
- GAC Shipping (India) Pvt Ltd
- Chettinad Cement Corporation Ltd - India
- Vizag Seaport Private Limited - India
- Baramulti Group, Indonesia
- Jaiprakash Power Ventures ltd
- Electricity Authority, New Zealand
- Ministry of Mines - Canada
- Semirara Mining Corp, Philippines
- Chamber of Mines of South Africa
- Port Waratah Coal Services - Australia
- Energy Link Ltd, New Zealand
- Sical Logistics Limited - India
- Bulk Trading Sa - Switzerland
- Holcim Trading Pte Ltd - Singapore
- Indian Oil Corporation Limited
- Asmin Koalindo Tuhup - Indonesia
- Bukit Baiduri Energy - Indonesia
- Uttam Galva Steels Limited - India
- Independent Power Producers Association of India
- Ceylon Electricity Board - Sri Lanka
- Energy Development Corp, Philippines
- Singapore Mercantile Exchange
- London Commodity Brokers - England
- PNOC Exploration Corporation - Philippines
- Samtan Co., Ltd - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Wilmar Investment Holdings
- Australian Coal Association
- AsiaOL BioFuels Corp., Philippines
- Bangladesh Power Developement Board
- Mercuria Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Carbofer General Trading SA - India
- Kideco Jaya Agung - Indonesia
- Bhatia International Limited - India
- Ambuja Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Renaissance Capital - South Africa
- Salva Resources Pvt Ltd - India
- Petron Corporation, Philippines
- Indika Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Mining Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sree Jayajothi Cements Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Coal Blending Company Limited - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jindal Steel & Power Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Toyota Tsusho Corporation, Japan
- Trasteel International SA, Italy
- Kumho Petrochemical, South Korea
- Neyveli Lignite Corporation Ltd, - India
- Metalloyd Limited - United Kingdom
- Altura Mining Limited, Indonesia
- Central Java Power - Indonesia
- Siam City Cement PLC, Thailand
- Coalindo Energy - Indonesia
- PowerSource Philippines DevCo
- Indo Tambangraya Megah - Indonesia
- Mercator Lines Limited - India
- Tata Chemicals Ltd - India
- Karaikal Port Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- SN Aboitiz Power Inc, Philippines
- Marubeni Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Vedanta Resources Plc - India
- Globalindo Alam Lestari - Indonesia
- Lanco Infratech Ltd - India
- Star Paper Mills Limited - India
- Videocon Industries ltd - India
- Thiess Contractors Indonesia
- Planning Commission, India
- Billiton Holdings Pty Ltd - Australia
- Economic Council, Georgia
- Simpson Spence & Young - Indonesia
- Madhucon Powers Ltd - India
- Minerals Council of Australia
- Alfred C Toepfer International GmbH - Germany
- Bayan Resources Tbk. - Indonesia
- Australian Commodity Traders Exchange
- Therma Luzon, Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wood Mackenzie - Singapore
- OPG Power Generation Pvt Ltd - India
- Deloitte Consulting - India
- Heidelberg Cement - Germany
- Interocean Group of Companies - India
- Africa Commodities Group - South Africa
- Anglo American - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Oldendorff Carriers - Singapore
- Global Business Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Mintek Dendrill Indonesia
- Kaltim Prima Coal - Indonesia
- SMC Global Power, Philippines
- Ind-Barath Power Infra Limited - India
- Rio Tinto Coal - Australia
- Manunggal Multi Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Goldman Sachs - Singapore
- Krishnapatnam Port Company Ltd. - India
- Latin American Coal - Colombia
- Kepco SPC Power Corporation, Philippines
- McConnell Dowell - Australia
- Romanian Commodities Exchange
- Cigading International Bulk Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Sinarmas Energy and Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Riau Bara Harum - Indonesia
- Coastal Gujarat Power Limited - India
- Parry Sugars Refinery, India
- Antam Resourcindo - Indonesia
- Georgia Ports Authority, United States
- Aboitiz Power Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- GVK Power & Infra Limited - India
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- India Bulls Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Bhushan Steel Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- The Treasury - Australian Government
- Borneo Indobara - Indonesia
- Malabar Cements Ltd - India
- Indonesian Coal Mining Association
- MS Steel International - UAE
- Indogreen Group - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meralco Power Generation, Philippines
- Formosa Plastics Group - Taiwan
- Gujarat Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Kobexindo Tractors - Indoneisa
- Attock Cement Pakistan Limited
- Straits Asia Resources Limited - Singapore
- PetroVietnam Power Coal Import and Supply Company
- ICICI Bank Limited - India
- Central Electricity Authority - India
- Banpu Public Company Limited - Thailand
- Medco Energi Mining Internasional
- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- Sakthi Sugars Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Coal and Oil Company - UAE
- Gujarat Sidhee Cement - India
- ASAPP Information Group - India
- VISA Power Limited - India
- Tamil Nadu electricity Board
- European Bulk Services B.V. - Netherlands
- Timah Investasi Mineral - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Savvy Resources Ltd - HongKong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMG Consultants - Indonesia
- International Coal Ventures Pvt Ltd - India
- Aditya Birla Group - India
- Mjunction Services Limited - India
- Indian Energy Exchange, India
- Orica Australia Pty. Ltd.
- Makarim & Taira - Indonesia
- Directorate Of Revenue Intelligence - India
- Posco Energy - South Korea
- LBH Netherlands Bv - Netherlands
- Ministry of Transport, Egypt
- Gujarat Mineral Development Corp Ltd - India
- TeaM Sual Corporation - Philippines
- Grasim Industreis Ltd - India
- Edison Trading Spa - Italy
- CNBM International Corporation - China
- Semirara Mining and Power Corporation, Philippines
- Agrawal Coal Company - India
- Eastern Coal Council - USA
- Sarangani Energy Corporation, Philippines
- Parliament of New Zealand
- Power Finance Corporation Ltd., India
- CIMB Investment Bank - Malaysia
- The University of Queensland
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